With GOLD’s bias continuing to point lower, further bearishness is now envisaged. This is consistent with its short term weakness triggered off the 1,219.51 level the past week. On the downside, support comes in at the 1,170.00 level where a break will aim at the 1,150.00 level. Below here if seen could trigger further downside towards the 1,130.00 level where a break will aim at the 1,100.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1,200.00 level where a break will aim at the 1,219.51 level. A violation of here will turn attention to the 1,240.00 level followed by the 1,150.00 level. All in all, GOLD remains biased to the downside medium term but faces corrective recovery risky. More: Euro Will Fall In A Cyclical Upswing: Why & Where To? – Goldman Sachs FX Tech Strategy FX Tech Strategy FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012. View All Post By FX Tech Strategy Forex Bits share Read Next Party nearly over for USD bulls – HSBC Yohay Elam 8 years With GOLD's bias continuing to point lower, further bearishness is now envisaged. This is consistent with its short term weakness triggered off the 1,219.51 level the past week. On the downside, support comes in at the 1,170.00 level where a break will aim at the 1,150.00 level. Below here if seen could trigger further downside towards the 1,130.00 level where a break will aim at the 1,100.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1,200.00 level where a break will aim at the 1,219.51 level. A violation of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
